Initially given an uncertain release date of "soon," PS3 firmware 3.40 is live in North America as of last night, enabling PlayStation Plus subscription, video editing and more. The new PSN Facebook application is also now available, allowing you to make new PSN friends and show off your trophies.

The new firmware adds the following functionality:
  • PlayStation Plus
  • Photo Gallery
  • Video Editor & Uploader
  • Five Star Rating Support
  • Power Save Settings
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This article was originally published on Joystiq.